Does your electric car qualify for a full tax credit under the new IRS guidelines? Check out the list of potential recipients. – Tesla (NASDAQ: TSLA), Ford Motor (NYSE: F), General Motors (NYSE: GM), Rivian Automotive (NASDAQ: RIVN)

Does your electric car qualify for a full tax credit under the new IRS guidelines?  Check out the list of potential recipients.  – Tesla (NASDAQ: TSLA), Ford Motor (NYSE: F), General Motors (NYSE: GM), Rivian Automotive (NASDAQ: RIVN)

New rules governing the federal tax credit for electric vehicles go into effect Tuesday, taking some vehicles out of the category altogether and curtailing benefits for others.

What happened: New guidelines announced by the Internal Revenue Service around the $7,500 EV-related tax credit require that a certain percentage of battery materials and components be sourced from North America or from a US trading partner.

Other guidelines—which require the SUV to be priced under $80,000 and the vehicle to be priced under $55,000; cars to be built in North America; and individuals with an AGR of $150,000 – already activated.

The IRS is expected to release an updated list of vehicles eligible for the tax credit based on the updated rules on Tuesday.

Under the updated rules, the $7,500 tax credit will be divided into separate credits of $3,750. Starting Tuesday, vehicles can qualify for both, one-or-none credits, according to NPR mentioned.

Based on its conversations with automakers, the outlet has also put together a list of potential compounds that could benefit from the updated guidelines.

See also: The best stocks for electric cars

Electric vehicles eligible for a full credit of $7,500:

  • General Motors Corporation. GM Cadillac Lyric
  • Chevrolet Silverado EV
  • Tesla, Inc. TSLA Model 3 performance variant
  • Ford Motor Company F F-150 Lightning EV Pickup Truck
  • Lincoln Aviator Grand Touring from Ford
  • General Motors Chrysler Pacifica Plug-in Hybrid

Electric vehicles that can qualify for a $3,750 or $7,500 credit:

  • General Motors Chevy Bolt
  • Chevy Bolt EUV
  • Volkswagen AG VWAGY ID.4 cars are made in Tennessee only

Electric vehicles likely to qualify for the $3,750 credit:

  • Tesla Model 3 rear wheel drive
  • Ford Mustang Mach-E
  • Ford E Transit
  • Ford Escape Hybrid
  • Ford Lincoln Corsair Grand Touring Plug-in Hybrid
  • Stellantis NV’s STLA jeep wrangler 4xe
  • Jeep Grand Cherokee 4xe

Electric vehicles that do not qualify for any of the tax credits:

  • Geely Auto Holdings Limited glyph Volvo S60 Hybrid, Extended Range, T8 Recharge
  • Check out more coverage of Benzinga Future Of Mobility by following this link.

Electric vehicles are currently eligible for the full credit but their future eligibility status is unclear:

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